BlackRock, Inc. (NYSE:BLK) Position Trimmed by Crestwood Advisors Group LLC

Crestwood Advisors Group LLC lessened its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 2.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 541 shares of the asset manager’s stock after selling 15 shares during the quarter. Crestwood Advisors Group LLC’s holdings in BlackRock were worth $439,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of BLK. Fairfield Bush & CO. bought a new stake in shares of BlackRock in the 1st quarter valued at approximately $115,000. United Bank grew its stake in shares of BlackRock by 17.1% in the 1st quarter. United Bank now owns 1,287 shares of the asset manager’s stock valued at $983,000 after buying an additional 188 shares in the last quarter. Panagora Asset Management Inc. grew its stake in shares of BlackRock by 2.6% in the 1st quarter. Panagora Asset Management Inc. now owns 1,978 shares of the asset manager’s stock valued at $1,512,000 after buying an additional 51 shares in the last quarter. Sequoia Financial Advisors LLC grew its stake in shares of BlackRock by 35.4% in the 1st quarter. Sequoia Financial Advisors LLC now owns 1,025 shares of the asset manager’s stock valued at $783,000 after buying an additional 268 shares in the last quarter. Finally, Brown Brothers Harriman & Co. grew its stake in shares of BlackRock by 11.7% in the 1st quarter. Brown Brothers Harriman & Co. now owns 1,452 shares of the asset manager’s stock valued at $1,110,000 after buying an additional 152 shares in the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

BlackRock Stock Down 2.9 %

Shares of BLK stock opened at $763.40 on Monday. BlackRock, Inc. has a 12 month low of $596.18 and a 12 month high of $845.00. The firm has a market cap of $113.70 billion, a PE ratio of 19.40, a price-to-earnings-growth ratio of 1.65 and a beta of 1.37. The stock has a 50 day moving average of $808.88 and a 200-day moving average of $753.65. The company has a quick ratio of 3.48, a current ratio of 3.48 and a debt-to-equity ratio of 0.32.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Friday, April 12th. The asset manager reported $9.81 EPS for the quarter, topping analysts’ consensus estimates of $9.42 by $0.39. The company had revenue of $4.73 billion during the quarter, compared to analyst estimates of $4.65 billion. BlackRock had a return on equity of 14.74% and a net margin of 30.81%. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the previous year, the company earned $7.93 earnings per share. On average, equities analysts predict that BlackRock, Inc. will post 41.35 EPS for the current year.

Insider Activity at BlackRock

In related news, General Counsel Christopher J. Meade sold 18,000 shares of the company’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $282.54, for a total value of $5,085,660.60. Following the completion of the transaction, the general counsel now directly owns 11,914 shares in the company, valued at $3,366,142.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, General Counsel Christopher J. Meade sold 18,000 shares of the company’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $282.54, for a total value of $5,085,660.60. Following the completion of the transaction, the general counsel now directly owns 11,914 shares in the company, valued at $3,366,142.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Laurence Fink sold 30,978 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $809.92, for a total value of $25,089,701.76. Following the completion of the transaction, the chief executive officer now owns 414,146 shares of the company’s stock, valued at $335,425,128.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 100,511 shares of company stock worth $71,864,028. 0.96% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on BLK. TD Cowen raised BlackRock from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $819.00 to $938.00 in a research note on Tuesday, January 16th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $930.00 target price (up previously from $918.00) on shares of BlackRock in a research report on Friday, April 5th. JPMorgan Chase & Co. upped their target price on BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 2nd. Finally, UBS Group upped their target price on BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a research report on Friday. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $802.29.

BlackRock Profile

BlackRock, Inc is a publicly owned investment manager. The firm primarily provides its services to institutional, intermediary, and individual investors including corporate, public, union, and industry pension plans, insurance companies, third-party mutual funds, endowments, public institutions, governments, foundations, charities, sovereign wealth funds, corporations, official institutions, and banks.